Exports Surge by 19%: Hongqiang Partners With Yuanan New Material to Unlock a New Route for Polyether Polyol Overseas

Recently, Hongqiang Chemical, a wholly-owned subsidiary of Hongqiang Co., Ltd., officially signed a "Polyether" agreement with Huizhou Yuanan New Materials Co., Ltd.PolyolAccording to the "Product Cooperation Framework Agreement", both parties have established a strategic partnership for three years, with an expected cumulative supply exceeding 10,000 tons. According to the agreement, Hongqiang Chemical officially becomes the core supplier for Huizhou Yuanan in the field of polyether polyols. The two parties will engage in deep collaboration around the research, production, and global market promotion of this product.

Huizhou Yuan'an has long been focused on the research and development of polyether polyol blends and new PU products. Its products not only cover the domestic market but are also exported overseas, having established certain channels and brand recognition in the international market. As a newly appointed core supplier, Hongqiang Chemical can leverage Yuan'an's overseas network to quickly penetrate target markets.

More importantly, the cooperation between the two parties is not limited to a short-term supply relationship but focuses on long-term industrial chain collaboration and joint technology research. It is revealed that in the future, the two companies may jointly expand into high value-added fields such as automotive interior and exterior materials, new energy battery packaging materials, rail transit cushioning materials, and agricultural controlled-release materials, promoting the advancement of Chinese polyurethane products towards high-end, refined, and green development.

Polyether polyol, as a core raw material in the polyurethane industry chain, is widely used in flexible foams, elastomers,AdhesiveIn the fields of coatings and other areas. Since 2025, the price of this product has experienced significant fluctuations.Buy Chemicals and PlasticsAccording to the research institute's monitoring, the polyether polyol market continued to be sluggish in the first half of 2025, with an average price of only 7,780 yuan/ton, further declining from 8,912 yuan/ton in the same period of 2024. However, in the third quarter, the price of soft foam polyether showed a significant rebound, with the average price in August rising to 8,230 yuan/ton, an increase of 10.84% compared to June.

In recent years, overseas production capacity of polyether polyols has been continuously withdrawn and interrupted due to various factors, creating a strategic window for Chinese companies to expand their share in the international market. Starting from the second half of 2024, Dow Chemical will shut down its 50,000 tons/year capacity in Argentina, while LyondellBasell and Covestro will jointly close their PO/SM plant in the Netherlands. Additionally, in July 2025, Covestro's facility in the Dormagen site in Germany will be shut down due to force majeure. These events have led to supply shortages in regions such as Europe and Latin America, with a significant order transfer effect. Against this backdrop, China's polyether polyol exports have performed remarkably well, with total export volume reaching 1.3154 million tons in the first half of 2025, a year-on-year increase of 19.43%. Notably, exports to emerging markets such as India and Vietnam have surged by 59.00% and 55.04%, respectively, demonstrating strong international competitiveness.

Against the backdrop of the current global energy structure adjustment and the regionalization of supply chains, Chinese enterprises are gradually winning the trust of international customers thanks to their stable supply capacity and continuously improving product quality. From January to June 2025, the monthly export growth rate of polyether polyols remained at double-digit levels, with a year-on-year increase of 32.10% in May alone. As domestic production capacity continues to expand, China’s position in polyether exports is expected to be further enhanced.